Assemblyman Stan Ellis and Mike Ariza Stop by and Talk about California on Empty

Iran War has Brought The Energy Crisis to the Center Stage. We also cover the Energy Transition, Exxon and Chevron Earnings.

We cover 9 huge energy stories from around the world. We also go into the ExxonMobil and Chevron Earnings in the finance section. 1. Global Energy Crisis & Iran War Impact The Podcast opens with the Iran war creating a severe global energy crisis. Key impacts include: * Europe lost 75% of fuel supplies, causing flight cancellations during peak tourism * Asia down to 30 days of jet fuel; Pakistan implementing mandatory 4-day work weeks * India restricting cremations due to gas shortages; Egypt imposing 9 PM curfews * Bangladesh experiencing violent fuel shortages * 1 billion barrels of oil removed from the market, with strategic reserves only offsetting half the loss 2. U.S. Energy Dominance & California's Vulnerability * America positioned as the "world's emergency gas station" with ramped-up oil production * California facing a critical local energy crunch due to refinery closures (Phillips 66 LA, Valero Valencia reducing capacity by ~20%) * Warning that tanker imports will dry up in weeks; urgent call for federal intervention to keep refineries operational 3. Pipeline Infrastructure & Energy Independence * Keystone XL Revival: Trump administration signing orders for the Bridger Pipeline Expansion (650 miles from Montana to Wyoming), leveraging existing infrastructure * Trans-Caspian Pipeline: Turkey positioning itself as a geopolitical player in European energy independence from Russian gas * Emphasis on energy security, starting at home, and energy dominance through exports 4. Corporate Strategy: Oil Companies & Venezuela * Chevron is maintaining its foothold in Venezuela while ExxonMobil and ConocoPhillips are re-entering after nearly two decades * Venezuela holds the world's largest proven oil reserves but with challenges in extraction 5. Energy Transition Sustainability Crisis * $10 trillion spent on wind, solar, and hydrogen, yielding only 3% additional energy globally * 225,000 turbines worldwide requiring decommissioning before 2050—creating a "replacement treadmill." * Solar panels: 95% not recycled in the U.S., ending up in landfills * Paris Climate Accord cost $26.8 trillion for $4.5 trillion in benefits—math doesn't add up 6. U.S. Hydroelectricity Crisis * Worst drought in 1,200 years threatens western power generation * Hoover Dam approaching "Deadpool" levels (below electricity generation capacity) * Federal intervention with supplemental releases from Flaming Gorge Reservoir through 2027 7. Major Oil Company Earnings Reports * Phillips 66: Beat Q1 earnings by 88 cents per share; strong refining margins * Chevron: Largest earnings beat since October 2020 ($1.41 vs. $0.92-0.97 expected); CEO emphasizes operational fundamentals over headline profits * ExxonMobil: Resilient Q1 performance with $9.2 billion in shareholder distributions * Cheniere Energy (LNG): Strong position to sell all production at premium prices 8. Geopolitical & Financial Implications * UAE leaving OPEC (producing 3.5M barrels/day), signaling shift from cartel to open market * Discussion of U.S. financial control over Iraq and Venezuela's oil supplies * Concerns about silver market manipulation amid AI data center demand * Paper vs. physical oil pricing divergence (physical trading at $140-160+ vs. paper at ~$101-108) Overall Theme: Podcast presents a complex picture of global energy instability driven by geopolitical conflict, infrastructure challenges, and the limitations of renewable energy transitions—positioning U.S. energy dominance as critical to global stability. Energy Security Starts at Home, but your Energy Dominance is displayed through your Exports. The United States is Energy Independent, with the Exception of California. California is Energy Dependent. 1.Iran War Has Brought Energy Crisis to the Global Stage [https://energynewsbeat.com/energy-crisis/iran-war-has-brought-energy-crisis-to-the-global-stage/] 2.Suddenly Chevron is the smart one in the room with ExxonMobil and ConocoPhillips looking at Venezuela [https://energynewsbeat.com/bankruptcy/suddenly-chevron-is-the-smart-one-in-the-room-with-exxonmobil-and-conocophillips-looking-at-venezuela/] 3.President Trump Signs New Order for Canadian Oil Pipeline to Revive Part of Canceled Keystone XL Pipeline [https://energynewsbeat.com/crude-oil/president-trump-signs-new-order-for-canadian-oil-pipeline-to-revive-part-of-canceled-keystone-xl-pipeline/] 4.Trans-Caspian Pipeline May Be a New Geopolitical Influencer [https://energynewsbeat.com/geopolitical-futures/trans-caspian-pipeline-may-be-a-new-geopolitical-influencer/] 5.The Energy Transition Replacement Treadmill is Unsustainable [https://energynewsbeat.com/energy-transition/the-energy-transition-replacement-treadmill-is-unsustainable/] 6.US Hydroelectricity in Crisis: The Worst Drought in 1,200 Years Threatens Western Power Generation [https://energynewsbeat.com/electrical-generation/us-hydroelectricity-in-crisis-the-worst-drought-in-1200-years-threatens-western-power-generation/] 7.Phillips 66 Beats Q1 Estimates by $.88 Per Share as Refining Margins Surge [https://energynewsbeat.com/earnings/phillips-66-beats-q1-estimates-by-88-per-share-as-refining-margins-surge/] 8.Chevron Reports Strong Q1 2026 Earnings Beat Amid Geopolitical Volatility and Temporary Hedging Charges [https://energynewsbeat.com/big-oil-companies/chevron-reports-strong-q1-2026-earnings-beat-amid-geopolitical-volatility-and-temporary-hedging-charges/] 9.ExxonMobil Delivers Resilient Q1 2026 Earnings Amid Geopolitical Headwinds, Signaling Strength for Investors and Energy Market Stability [https://energynewsbeat.com/earnings/exxonmobil-delivers-resilient-q1-2026-earnings-amid-geopolitical-headwinds-signaling-strength-for-investors-and-energy-market-stability/] Check out the Energy News Beat SubStack https://theenergynewsbeat.substack.com/ [https://theenergynewsbeat.substack.com/] A shout-out to Steve Reese and the Reese Energy Consulting group for sponsoring the Podcast https://reeseenergyconsulting.com/. [https://reeseenergyconsulting.com/.] Data2 if you have any business systems, can you trust A? Well, they have the patent on validation. . https://data2.zoholandingpage.com/energy [https://data2.zoholandingpage.com/energy] And we have WellDatabase rolling in as a new sponsor. https://welldatabase.com/ [https://welldatabase.com/]

Assemblyman Stan Ellis and Mike Ariza Stop by and Talk about California on Empty

California State Assemblyman Stan Ellis and Mike Ariza stop by the Energy News Beat and the Energy Impacts Podcast with Stu Turley and David Blackmon to discuss the critical nature of the energy crisis facing California, which is about to unfold. Assemblyman Ellis, Mike, and Professor Mische have been working to help get the Federal Government involved to help out California consumers from this potential diesel, gasoline, and jet fuel crash. Hat tip to David Blackmon for carrying the podcast as I had internet issues. 1. California's Fuel Supply Crisis The episode centers on an impending fuel shortage in California caused by multiple factors: Refineries shutting down (Valero, Rodeo, Marathon, Phillips) Tanker shipments from Asia halted since mid-March Imports now account for 40%+ of California's fuel supply Only 3-7 days of fuel storage remaining (vs. Governor Newsom's claim of 30 days) Tankers from the Gulf take 25-45 days to reach California due to Panama Canal backups 2. Political Dysfunction in California Assemblyman Stan Ellis criticizes: Inefficient time management in the state assembly (spending $40,000/hour on ceremonial resolutions) Partisan gridlock and ideological rigidity among Democratic leadership Lack of accountability and poor legislative prioritization The disconnect between politicians and real-world business operations 3. California's Energy Policy Problems Key issues highlighted: CARB regulations: Reformulated fuel requirements (Carbob) limit fuel sources Cap and Trade: Billions diverted to high-speed rail instead of infrastructure or energy solutions Environmental lawsuits: Constant litigation blocking oil and gas development Renewable diesel conversion: Rodeo and Marathon refineries converted away from gasoline/jet fuel production, removing 350,000 barrels/day of capacity 4. Short-term and Long-term Solutions Proposed remedies include: Immediate: Import non-Carbob gasoline from the Gulf; suspend Jones Act restrictions Medium-term: Executive orders to federalize oil and gas as a national security issue Long-term: Increase domestic drilling, restore refinery profitability, eliminate Cap and Trade, invest in alternative energy (fusion, nuclear, hydrogen) 5. Geopolitical and Supply Chain Issues U.S. importing 30% of crude oil from the Middle East Indirect support of Russia through purchases of Indian fuel (which sources from Russia) Iran's strait closure affecting global oil production Other countries (Nevada, Arizona) dependent on California's fuel supply 6. Economic and National Security Implications Oil and gas represent 8% of California's GDP; without it, the other 92% is unsustainable Military bases (42 in California) dependent on fuel supply Commercial aviation and trucking (grocery delivery) at risk Potential for widespread economic disruption if crisis occurs The overall tone is urgent and critical of California's environmental policies. Things have to change quickly to avoid the crisis. Check out the Energy News Beat SubStack https://theenergynewsbeat.substack.com/ Check out the Energy Impacts at https://blackmon.substack.com/ A shout-out to Steve Reese and the Reese Energy Consulting group for sponsoring the Podcast https://reeseenergyconsulting.com/. Data2 if you have any business systems, can you trust A? Well, they have the patent on validation. . https://data2.zoholandingpage.com/energy And we have WellDatabase rolling in as a new sponsor. https://welldatabase.com/

Goldman Sachs says Higher for Longer Is the New Reality - We add that it's not just oil - it is gas, diesel, jet fuel and everything else.

On the Energy News Beat Stand Up, we are covering 9 big stories, and they all have a huge impact on the markets, consumers, and investors. Goldman Sachs validated what we had been writing about, and we also brought up the other downstream products that look to be approaching a critical supply chain breaking point. In California, that is about 3 weeks, and in the EU, it is sooner. They use a lot more imported jet fuel and diesel. 1. Oil and Energy Market Outlook The discussion centers on Goldman Sachs' "higher for longer" forecast, suggesting sustained elevated prices for oil, gas, diesel, jet fuel, and gasoline. A key concern is the supply shock in the global petrochemical feedstock market caused by disruptions in the Strait of Hormuz, which could trigger demand destruction and potentially lead to a global recession. 2. US Energy Exports The podcast highlights record-high US exports of crude oil, refined petroleum products, and petrochemical materials. There's emphasis on the strategic importance of "energy dominance" and energy security through maintaining strong export capabilities. 3. California's Energy Crisis A significant portion addresses California's energy challenges, specifically: * Refinery closures reducing local production capacity * Growing reliance on imports driving up fuel prices * Calls for federal intervention to resolve the situation 4. Geothermal Energy Development The discussion explores geothermal energy as a potential solution, with estimates of 150 GW of untapped geothermal capacity in the US. However, regulatory barriers and the need for government support are identified as key obstacles to development. 5. Energy Sector Investment Analysis The podcast includes technical and fundamental analysis of energy stocks, examining companies like Crescent Energy and Baker Hughes, along with stock valuations and investment opportunities in the energy sector. 1.Goldman Sachs: ‘Higher for Longer’ Is the New Reality [https://energynewsbeat.com/crude-oil/goldman-sachs-higher-for-longer-is-the-new-reality/] 2.The Global PetroChemical Feedstocks Shock is Unfolding [https://energynewsbeat.com/downstream/the-global-petrochemical-feedstocks-shock-is-unfolding/] 3.Demand Destruction is on the Horizon with a Billion-Barrel Hormuz Oil Shock About to Send Prices Up [https://energynewsbeat.com/crude-oil-news/demand-destruction-is-on-the-horizon-with-a-billion-barrel-hormuz-oil-shock-about-to-send-prices-up/] 4.US Energy Exports Hit Records as Energy Markets Shift [https://energynewsbeat.com/crude-oil/us-energy-exports-hit-records-as-energy-markets-shift/] 5.U.S. Gasoline Remains a Bargain Compared to Europe – and California [https://energynewsbeat.com/downstream/u-s-gasoline-remains-a-bargain-compared-to-europe-and-california/] 6.Energy Security Starts at Home, and Your Energy Dominance Is Exhibited Through Your Exports – How is the U.S. Shipbuilding rolling out? [https://energynewsbeat.com/exports/energy-security-starts-at-home-and-your-energy-dominance-is-exhibited-through-your-exports-how-is-the-u-s-shipbuilding-rolling-out/] 7.Geothermal Breakthrough Looks to Break Open 150 Gigawatt Energy Revolution – If State and Federal Regulators Can Get Out of the Way [https://energynewsbeat.com/electrical-generation/geothermal-breakthrough-looks-to-break-open-150-gigawatt-energy-revolution-if-state-and-federal-regulators-can-get-out-of-the-way/] 8.Crescent Energy (CRGY) Valuation Post Earnings and Expectations [https://energynewsbeat.com/crude-oil/crescent-energy-crgy-valuation-post-earnings-and-expectations/] 9.Baker Hughes Q1 Revenue Beats Estimates by $260 Million as LNG Order Surge [https://energynewsbeat.com/earnings/baker-hughes-q1-revenue-beats-estimates-by-260-million-as-lng-order-surge/] Check out the Energy News Beat SubStack https://theenergynewsbeat.substack.com/ [https://theenergynewsbeat.substack.com/] A shout-out to Steve Reese and the Reese Energy Consulting group for sponsoring the Podcast https://reeseenergyconsulting.com/. [https://reeseenergyconsulting.com/] Data2 if you have any business systems, can you trust A? Well, they have the patent on validation. . https://data2.zoholandingpage.com/energy [https://data2.zoholandingpage.com/energy] And we have WellDatabase rolling in as a new sponsor. https://welldatabase.com/ [https://welldatabase.com/]

With Brent Oil at $105 is $90 to $95 the new Floor for WTI?

It is a wild day on the News Desk, and we saw Brent hit $105, and the market tanked. This is not going to be over very quickly, as there is a lot to unwind in the oil and gas markets and supply chains. We are seeing new proposed pipelines, and Energy Security is really taking front and center stage around the world. 1. Oil and Energy Market Dynamics The Podcast extensively covers how global oil markets are being affected by geopolitical tensions, particularly disruptions in the Middle East and the Strait of Hormuz. There's discussion about establishing a new baseline for oil prices (around $90-$95 range) and the risk of demand destruction if prices remain elevated. The speaker also analyzes the disconnect between how oil/gas companies are performing versus refineries in the current market environment. 2. Energy Security and Self-Reliance A significant focus is placed on countries building domestic refining and drilling capabilities to reduce dependence on imports. The transcript highlights U.S. efforts to increase energy independence and export capabilities, with specific examples like the Golden Pass LNG facility and Japan's JAPEX expanding into the U.S. oil and gas market. 3. Geopolitical Developments The discussion addresses potential permanent disruptions to Middle Eastern oil supplies and their global market impact. There's also mention of U.S. government efforts to re-engage with Venezuela to boost oil production and exports. 4. Regulatory and Policy Changes The podcast covers bipartisan efforts in Pennsylvania to maintain coal-fired power plants despite the broader shift toward natural gas and renewables. California's refinery issues and the Jones Act's impact on U.S. energy supply and pricing are also discussed. 5. Stock Market and Investment Analysis Stu provides insights on the performance of various energy-related stocks, including oil and gas companies, refiners, and LNG players, identifying potential investment opportunities and risks in the current market. 1.Is $90 to $95 Oil Is the New Baseline for 2026 [https://energynewsbeat.com/crude-oil/is-90-to-95-oil-is-the-new-baseline-for-2026/] 2.When the Paper Price of Oil Catches Up with the Physical Price of Delivered Oil, It Will Be a Violent Swing UP [https://energynewsbeat.com/crude-oil-news/when-the-paper-price-of-oil-catches-up-with-the-physical-price-of-delivered-oil-it-will-be-a-violent-swing-up/] 3.Energy Security Starts at Home: More Countries Are Building Refineries and Drilling Programs [https://energynewsbeat.com/crude-oil-news/energy-security-starts-at-home-more-countries-are-building-refineries-and-drilling-programs/] 4.Oil Disruption of the Strait of Hormuz May Be More Permanent Than a Few Weeks [https://energynewsbeat.com/crude-oil-news/oil-disruption-of-the-strait-of-hormuz-may-be-more-permanent-than-a-few-weeks/] 5.Golden Pass LNG: QatarEnergy/ExxonMobil Joint Venture in Sabine Pass Makes First Shipment [https://energynewsbeat.com/exports/golden-pass-lng-qatarenergy-exxonmobil-joint-venture-in-sabine-pass-makes-first-shipment/] 6.Japan’s Japex to Expand Oil and Gas Production, Including in the U.S. [https://energynewsbeat.com/mergers-acquisitions-divestitures/japans-japex-to-expand-oil-and-gas-production-including-in-the-u-s/] 7.Two Clean Coal Plants in Pennsylvania Are Staying Open Thanks to Trump and Shapiro [https://energynewsbeat.com/coal/two-clean-coal-plants-in-pennsylvania-are-staying-open-thanks-to-trump-and-shapiro/] 8.US Oil Executives Meet Venezuela President and What Does This Mean for Investors and Consumers? [https://energynewsbeat.com/big-oil-companies/us-oil-executives-meet-venezuela-president-and-what-does-this-mean-for-investors-and-consumersenergy-news-beat/] 9.California is Within Weeks of a Shutdown [https://energynewsbeat.com/diesel/california-is-within-weeks-of-a-shutdown/] Check out the Energy News Beat SubStack https://theenergynewsbeat.substack.com/ [https://theenergynewsbeat.substack.com/] A shout-out to Steve Reese and the Reese Energy Consulting group for sponsoring the Podcast https://reeseenergyconsulting.com/. [https://reeseenergyconsulting.com/.] Data2 if you have any business systems, can you trust A? Well, they have the patent on validation. . https://data2.zoholandingpage.com/energy [https://data2.zoholandingpage.com/energy] And we have WellDatabase rolling in as a new sponsor. https://welldatabase.com/ [https://welldatabase.com/]

Dan Doyle Stops by the Energy News Beat Podcast - Of Roughnecks and Riches

You won't want to miss this Energy News Beat podcast with our special guest, Dan Doyle, author of " Roughnecks & Riches: A Start-Up in the Great American Fracking Boom". Little did Dan know that his book and the oil patch would be so important in delivering low-cost energy to the US and world markets. Dan is the President and Owner at Reliance Well Services and Arena Resources. This is quite a book, and the experiences are extremely relevant to the Energy Markets right now. We had a great talk, and if you can imagine a book that is a crossover from Landman goes to Harvard Business School, thrown in with Tulsa King starring Sylvester Stallone, you get a better idea of how cool the book really is. Connect with Dan on his LinkedIn - https://www.linkedin.com/in/dan-doyle-a90b442b/ Check out Dan on X @DanDoyleOil You can buy the book at https://a.co/d/02XyKvaI 1. Author & Industry Background The speaker, Dan Doyle, discusses his book "Roughnecks and Riches" and his extensive experience as both a writer and a professional in the oil and gas industry. 2. Energy Industry Challenges The conversation covers the current state of the energy sector, including: Controversies surrounding fossil fuels The shift toward renewable energy Regulatory and policy challenges 3. Business Operations Dan Doyle details his two companies: A fracking company An exploration and production company Operations across multiple regions (Appalachian Basin, Illinois Basin, Powder River Basin) 4. Energy Policy & Regulation Significant discussion about how policies in key states (New York, California, Pennsylvania) impact: Oil and gas industry operations Energy consumer costs Energy security 5. Fossil Fuels vs. Renewable Energy A central debate covering: The reliability and affordability of natural gas Limitations of renewable energy for baseload power The role of fossil fuels in energy security 6. Industry Perception & Competition The challenges the oil and gas industry faces: Public perception Regulatory hurdles Competition from renewable energy sources 7. Political & Economic Implications Discussion of how current energy policies, particularly under the Biden administration, may affect the industry and the 2028 elections. Check out the Energy News Beat SubStack https://theenergynewsbeat.substack.com/ A shout-out to Steve Reese and the Reese Energy Consulting group for sponsoring the Podcast https://reeseenergyconsulting.com/. . https://www.data2.ai/resources/the-decision-lag-report And we have WellDatabase rolling in as a new sponsor. https://welldatabase.com/